Femi Otedola, chairman of First HoldCo Plc, has bought new shares worth N14.8 billion in the financial holding firm, bringing his position to more than 18 percent.

The transaction was revealed in a notification signed by Abiola Baruwa, group company secretary, and submitted to the Nigerian Exchange Group (NGX) on Thursday.

According to the statement, the shares were bought through Calvados Global Services Limited, his investments firm.

According to the notification, Otedola purchased 369,986,122 First HoldCo shares on December 18 at a price of N40.06.

On September 25, 2025, Otedola increased his position in the firm by acquiring 64.87 million shares for N2.01 billion.

FBN Holdings announced the transaction, stating that the chairman bought 39.3 million direct shares on September 23 for N1.2 billion.

On the same day, the millionaire purchased an additional 25.6 million indirect shares for N793.6 million through Calvados.

The purchase lifted Otedola’s holding in First HoldCo to 16.1 percent, up from 13.15 percent in September 2024.